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Iran-Pakistan non-oil trade grows by 19.7pc

Islamabad, Bilateral trade between Iran and Pakistan on non-oil products has witnessed a significant growth of 19.7 percent during the last six months, local media reported.

According to a report, the volume of bilateral trade between Pakistan and Iran on non-oil products increased to $642.6 million during the period March-August, 2018.

The bilateral trade has recorded growth by 19.7 per cent as compared to the corresponding period in 2017.

As per the report, the growth in bilateral trade among the neighbouring countries will lead to development and stability in the region.

Leaders of Iran and Pakistan have already agreed to enhance the bilateral trade volume to $5 billion in the next five years.

Experts say that the scope of trade ties between Iran and Pakistan is very high and it is good that the bilateral trade has been witnessing a positive growth.

Meanwhile Iran's exports to Pakistan in the first quarter (March 21-June 20) of this year (started on March 21) rose by 61 percent compared to the figure in the same period the previous year, according to statistics available.

President of Islamabad Chamber of Commerce and Industry Sheikh Amir Waheed while talking to the Islamic Republic News Agency (IRNA) had said Iran is a future gateway of Muslim countries and Pakistan must take benefit from the emerging economic opportunities of Iran.

The 20th Iran-Pakistan Joint Economic Commission meeting was also held in Teheran in April 2017 with an objective to implement the decisions that have been taken between the two countries to enhance the trade.

Source: Islamic Republic News Agency - IRNA


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